According to Scamwatch, Australians were deceived at almost 39 million USD in the 2018 year

Australia, although at the other end of the world, it is facing similar financial fraud problems. As can be seen from the Scamwatch report (Australian Competition and Consumer Commission), in the 2018 year, Australian citizens lost about 38,8 million USD, which is less than 8 million USD more than in the previous year.

The biggest problem is ...

Despite the huge size of this country, Australia is inhabited by "only" about 24,5 million inhabitants (data from 2017). Meanwhile, in 2018, 3508 frauds (the so-called scamów). Most of the injured are in the age group between 25 and 34, and the greatest losses were suffered by citizens aged 55-64. The peak season for scams is July - this is when the highest number of scams was recorded.

Although the recorded offenses concern both shares, raw materials and real estate, there is a certain pattern of action that is already well known to Polish citizens. The problem are companies operating as so-called "Boiler room", that is companies that focus on the telephone acquisition of customers under the guise of an international broker / financial institution. Potential customers are tempted "A reliable, high-yield investment"which usually does not even exist.

The second most common problem is fraud associated with cryptocurrencies. The increase in the popularity of virtual coins has acted like a magnet for cheaters, who have seen it as a great opportunity for fraud on the market, which is not yet sufficiently regulated. More on this topic we wrote in the July article of this year.